9144. Park National Bank (Kansas City, MO)

View Charter #9383 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
9383
Charter Number
9383
Start Date
November 15, 1926
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
ee2f188e29727777

Response Measures

Accommodated withdrawals, Fed/other loan, Public signal of financial health, Books examined

Description

Multiple contemporary newspaper accounts (Nov 15–16, 1926) describe a run on the Park National Bank that was stopped same day: depositors were paid, large cash displayed (armored truck), and the Federal Reserve governor publicly reassured patrons. The run was triggered by uneasiness after the closing of the Federal Trust Co. and Terminal Trust Co. No suspension or permanent closure of Park National is mentioned.

Events (2)
1. April 8, 1909 Chartered
Source
historical_nic
2. November 15, 1926 Run
Cause
Local Banks
Cause Details
Uneasiness and contagion following the closing of the Federal Trust Company and the Terminal Trust Company in Kansas City led depositors to gather and seek funds from Park National.
Measures
Displayed large cash reserves (armored Federal Reserve truck delivered money), paid all depositors who wanted funds, Federal Reserve governor publicly reassured depositors; police formed lane to entrance; bank paid checks promptly.
Newspaper Excerpt
The Park National Bank today turned into public reception ... opened and found 200 depositors lined up to get their money. Every one was paid.
Source
newspapers

Newspaper Articles (10)
1. November 15, 1926 St. Louis Post-Dispatch St. Louis, MO
Article from St. Louis Post-Dispatch, November 15, 1926

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Article Text

ANOTHER KANSAS CITY BANK IS CLOSED Cashier Is Brother of President of Concern That Closed Last Friday. Special JEFFERSON Nov. The State Finance Department received word today of the closing of the Waldo State Bank of Kansas City. It is the forty-ninth state bank to be closed in Missouri this year. The Waldo State bank had $125,000 of State funds on deposit, but the State Treasurer said today that he was protected by bonds of $112,000 and $14,500 of real estate securities. The cashier of the bank closed today is J. G. Laughlin, brother of P. E. Laughlin, president of the Federal Trust Co. of Kansas City, which was closed Friday. Finance Department officials said there connection in the operations of the Waldo and Federal companies. The Waldo bank had deposits of $529,429, loans of $379.368, total resources of $647,693 and a capital of $100,000. The closing today was announced as action taken by the board of directors. Finance Department examiners had been making an inspection of the Federal Trust. the Kansas City Terminal Trust Co., which was closed Saturday, and the Waldo bank before the closings were announced. State Bank at Thayer. Kan., Closes; Deposits $165,000. Special TOPEKA Kan., Nov. The Thayer State Bank was closed today by order of the board of directors. This is the only Kansas bank thus far affected by the closing of the Federal Trust Co. of Kansas City. Mo. The Thayer bank had the larger part of its reserves tied up in the Federal Trust and it also had purchased a large amount of Federal paper. These two conditions brought about the et sing of the bank today. The bank had a capital of $10,000 and a surplus of $5000. There were deposits of $165,000 and loans of $129,000. Run on Kansas City Bank Turned Into Public Reception. KANSAS CITY Nov. A "run" on the Park National Bank here today was turned into a public reception with flowers and smiles. The Park National. a neighborbood bank. opened and found 200 depositors lined up to get their money. Every one was paid and then at one end of the room a man stood on a chair "I anf W. J. Bailey.' he said. "I am governor of the Federal Reserve Bank. This bank is a member of the Federal Reserve system. The Federal Reserve Bank guarantees that depositors in this bank will not lose one cent." The assembled depositors cheered and Bailey shouted: "There are 200 million dollars behind that guarantee. Balley said officials and examiners of the Federal Reserve Bank had gone over the Park National Bank's 'paper' yesterday and found the bank to be as good shape as any bank in Kansas City."

2. November 15, 1926 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, November 15, 1926

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"RUN" ON BANK TURNS INTO A RECEPTION KANSAS Nov the Park National bank turned into public Park opened and 200 ors lined up money Every and then at the end the room man stood on am W Balley he am Federal Reserve the Federal The Reserve that deposit. Federal ors in this not one assembled depositors cheered 200 million dollars guarantee Balley officials Reserve bank tional and found the good bank Officials "run" started the result which circulated close Federal company and the Terminal Trust company

3. November 15, 1926 St. Joseph News-Press St. Joseph, MO
Article from St. Joseph News-Press, November 15, 1926

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Article Text

HALTED "RUN" ON BANK. Governor Kansas City Federal Re. serve Patrons of the Park National. KANSAS CITY, Mo., Nov. the Bank today was public reception The Park neighborhood 200 depositors get their was paid and then one of the man am Balley,' he am the Federal Bank. This of the federal The Reserve that the in this will not lose The cheered and Mr. "There are $200,000,000 behind that Governor Balley officials and examiners the Federal Bank had gone over Park National Bank's "paper" yesterday found the be good shape as any bank Kansas City Officials said the started as the result which Saturday following Fed. eral Trust Company the Terminal Trust Company.

4. November 15, 1926 The Sedalia Democrat Sedalia, MO
Article from The Sedalia Democrat, November 15, 1926

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ON BANK ENDS WITH The Associated Press. KANSAS CITY, Mo., Nov. the Park National Bank today turned into pub lic reception with flowers and smiles. The Park National, neighborhood bank, opened and found depositors lined up to get their money. paid and then one end the room chair. he said. governor the Federal Reserve Bank. This bank member Federal Reserve System. The Federal Reserve Bank guarantees that depositors this bank will not The assembled depositors cheered Mr. Bailey shouted: are million dollars that guarantee." Gov. Bailey said officials and aminers the Federal Reserve Bank had the Park Natgone and found the bank good shape bank in Kansas Officials the "run" started result which here Saturday following the close the Federal Trust Company the Terminal Trust Company.

5. November 16, 1926 Evening Star Washington, DC
Article from Evening Star, November 16, 1926

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TWO BANKS CLOSE; THIRD AVERTS RUN Kansas City Institutions Allied With Federal Trust Company Affected. By the Associated Press KANSAS CITY. November 16.--Two small banks. whose affairs were linked with the closed Federal Trust Co. here. closed yesterday and another small bank averted a run by depositors when cash reserves were called in and displayed. The Waldo State Bank. a suburban institution. and the Thayer State Bank of Thayer. Kans., were the two banks which closed. The Park National Bank. a neighborhood bank here. turned a run into A public reception when W. J. Bailey, governor of the Federal Reserve Bank of Kansas City. told about 200 depositors who had gathered that the bank was backed by the Federal reserve system and guaranteed them they would not lose "a cent. Reasons for Anxiety. Uneasiness which followed the closing of the Federal Trust Co. Friday and the Terminal Trust Co. here Saturday was blamed for the gathering of the depositors. The Waldo Bank's deposits at the time of its last statement were $536.281.31. The deposits in the Thayer bank were only $165.000. A large part of the reserves of the Thayer bank were deposited in the Federal Trust Co. The Waldo bank was a correspondent bank of the Federal Trust and J. G. Laughlin, secretary of the board of directors. was a brother of P. E. Laughlin, president of the Federal Trust Co. Both the Waldo State Bank and the Terminal Trust Co. had part of their cash reserves deposited in the downtown trust company. Officials of all the closed banks said they were sound and that they would be reorganized as soon as the affairs of the larger bank were adjusted.

6. November 16, 1926 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, November 16, 1926

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Article Text

"RUN" ON BANK STOPS. Depositors Cheer When Institution Declared Solvent. Associated KANSAS CITY, Mo., Nov. 16.-A on the Park National bank here was turned into public reception with flowers and smiles. The Park National, neighborhood bank, openand found 200 depositors lined up their money. Everyone was paid. When governor the Kansas City Federaol bank, said the bank was solvent, the depositors cheered, The Waldo State bank, small neighborhood institution, failed open its doors here Monday. It was the bank to close within three days. The Federal Trust company, bank with total closed Friday and the Terminal Trust bank which had part of its cash the Trust closed Waldo bank was correspondent, band of the Federal Trust company.

7. November 16, 1926 Pittsburgh Post-Gazette Pittsburgh, PA
Article from Pittsburgh Post-Gazette, November 16, 1926

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'Run' on Kansas City Bank Becomes Public Reception, Pass Out Posies With Cash KANSAS CITY. MO., Nov. (N. Y. Times. "run" on the Park National Bank almost became public reception today, with flowers smiles. who wanted his money it. but most of the 200 lepositors left to be Gov. W. Bailey of the Federal Bank mounted chair and told them bank was in unusually strong condition. At the opening hour. ap. proximately 200 depositors were milling around the door. Checks in already filled out, presumably for total bal Nicely timed. at exactly o'clock. an armored from the Federal Reserve Bank up in front of the door. A lane was formed to the bank door by squad of motorcycle patrolmen and stream of money poured into the Withal sight that took of the edge off the waiting of Checks that had been so freely displayed put out of sight, for the most part, but the held just the same. As as the had been safely stored the doors swung open. On either side stood pretty little girl. In their arms were of pink carnations. One was handed to each person entering. Cashiers and were at their places, great stacks of bills and gold piled behind the windows, all might see. They began paying checks as fast as avoiding any appearance of delay and smiling as they worked.

8. November 17, 1926 The Weekly Kansas City Star Kansas City, MO
Article from The Weekly Kansas City Star, November 17, 1926

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CITY SEES ROY AL PARTY. Princess Springs Wheeze and the Wife Lost Jam. Well. as Princess Ileana marked. "the royal party not have seen much Kansas but Kansas City certainly the royal party Queen Marie's train did not arrive until after dark left for St. Louis shortly after midnight Good natured crowds got out of hand and somewhat impeded the progress of the royal party the committee from the the Liberty to the Hotel where dinner was served in to American Royal for musiin honor of the home Jacob and back Rather busy six hours one might say Leaving the Mrs A Beach the mayor separ ated from the party. writer was introduced and entered the car with reed HITS CAPITAL DRAFT. Princess Nicolas. Princess lleana and Councilman George Goldman "Call what my name the Coolidge War Proposal. prince remarked Your name, said the princess with St. James A. Reed is "is sued statement Saturday assalling as right responded her brother 'monstrous fallacy' the principle of "all Heana capital indorsed by PresiHe pronounced the first part of the dent Coolidge in his Armistice day ad- word like the part "Illinois. They both laughed. dress "If such law were passed, the right like the Americans do. Prince Nicolas to life property guaranteed said by the Constitution would be abro It's English the name is Helen. the princess explained would be only one result 'What the difference asked the dollar laughing. "between hairdresser and go the entire sculptor?" chinery of trade and would Some of the party knew but they said they Senator Reed saw menace too, in the hairdresser curis up and proposal which said subject began the princess. women children the draft He while sculptor makes faces and blamed fathering the idea. busts.' cut in the prince on the theory that profiteers encouraged buffet supper was served. Governor wars. Baker Missouri Queen The proposal conscript capital and Marie Paulen of Kansas fol well power. in time lowed with Heana and Mayor of war has been urged by the American Beach was third with Mrs. Loose Legion for several THREE BANKS FAIL. ONE SAVED Federal Kansas City, Closes. Down. Beginning the closing of the Federal Trust last week. three Kansas institutions closed doors. The P. E. Laugh Iin operated apart from the deposits million Laughlin bank examiner The day the Terminal Trust Company its $30,000 was the Federal Trust Monday the Waldo State Bank cashier and secretary of the brother of E. The Waldo and banks paratively institutions run started Monday on the Park Bank and avenue. ended when governor of the Kansas City Federal Reserve Bank, told two and women in line that the Bank with 200 behind Park National was taken the bank th crowd watched. The run ended. The Thayer Bank Thayer. Kas., Monday is the only Kansas bank thus far affected by the closing of the Trust Company in Kansas City The Thayer large part its tied up the Federal Trust and also had bought large amount of Federal Trust paper. in Sears Roebuck Thefts The of an alleged out of the Roebuck in Kansas revealed this week the police with the arrest three employees. assistant auditor and garage manager former employee the company The goods valued $5,000 consisted of sets, gung and household furnishings. "WAR LOST BUT FOR U Critical Moment. Chicago- great part taken by our country the favorable clusion the World War," and 'there is little doubt the contest would have terminated had it not been that the assistance sent by America arrived at the critical moThus General Pershing. commander chief the American forces in the World War, paid tribute Armistice day to the under his command. in an address before meeting of the KIclubs here The the United States will not be far off "if the comes when public virtually bought and sold either or indirectly General Pershing "In the light recent in cer tain states.) of our citizens would modify the of se lecting candidates for office. He made plea for preparedness, tending that "if could have armed and equipped even half million men and sent to France early in 1917. the probabilities are that the war could been won that year General Pershing's Armistice day address. carried the European caused considerab abroad Marshal Foch was as he "always had Persh ing his friend and had not believed he would statement. KANSAS Grand Recommends New Law for Annual Investigations. Sweeping criticism of the management of affairs in Kansas City Kas. and Wyandotte County was set out Monday in the final of the Wyandotte County grand jury The criticism was from standpoint of onstructive improvement with to keeping the tax rate down. The jury the city work for law providing for annual grand juries.

9. November 18, 1926 The Milan Republican Milan, MO
Article from The Milan Republican, November 18, 1926

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FLOWERS, SMILES AND CASH TURN RUN ON BANK Park National Bank of Kansas City Greet the Crowd With Money and Courtesy and Turns the Run Into a Rush of Depositors. Kansas City, Nov. "run" on the Park National Bank became almost public reception today, with flowers and smiles. Every one who wanted his money got it, but most of the 200 depositors left to be boosters when Gov. W. Bailey of the Federal Reserve Bank mounted chair and told them the bank was in an un usually strong financial condition. At o'clock, the opening hour. approximately 200 depositors were milling nervously around the door. Checks were in evidence, already fill. ed out, presumably for total balances. Nicely timed at exactly nine o'clock, the sirens of motorcycle policemen came screeching from the north. They swooped down to the front of the bank. came to quick stop and formed circle around vehicle they were escorting. It was armored truck from the Federal an Reserve Bank. A lane formed to the bank was door. and stream of money poured out of the armored truck and into the bank. As soon the money had as been safely stored away the doors were open to the public. swung stood on either side. In pretty girl their arms were great masses of pink carnations. One was handed to each entering. In one end of the person room man stood on chair. He asked that all persons in the street be crowded into the bank and when the lobby was full the officers' desk quarters were opened so all could be squeezed into the room. W. the man am the chair announced. am governof the Federal Reserve Bank. This or bank is member of the federal serve system." Gov. Bailey went that the Federal Reserve Bank say officials and examiners had gone over the Park National Bank's paper and found that bank to be in terday in bank in Kan. as good shape as any City. It being in unusually strong sas condition. The lines melted away from windows and in few minutes paying was being deposited more money than was being drawn out. kitchen shower at the home of Earl Mr. and Mrs. John Hudson and Mr. and Mrs. Hudson Cooper entertained the bridal party at Sunday night the feature of the evening supper, being private motion pictures which Miss Hudson and her mother After the wedding reher sal the bridal party was entertained the home of Mr. and Mrs. Flint Shinn. The out of town guests following Miss Ellen Steel of present: Philadelphia, Pa.; Mr. J. Hughes of Kansas City, Mo.; Mr. and Mrs. Eubanks and Mr. Mrs. Mac of Milan, Mo.; Miss Faith banks of Mr. and and Misses Kate City, Mrs. Berry and BedHudson Kansas

10. November 25, 1926 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, November 25, 1926

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RUN ON BANK STOPPED City Star. "run" the Park National Bank, 4628 Troost almost public recepand who wanted his but the left, Balley Federal Reserve Bank mounted chair told the bank was unusually condition. the opening hour, approximatedepositors were milling nervously around the Checks were already filled out, presumably for total balNicely timed exactly o'clock, the sirens came the north. They down to front the to quick stop and formed circle around vehicle escorting. was armored truck from the Federal formed to the bank door and stream money out sacks bills, big sacks There were clinking middle sized sacks silver dollars, halves and Withal sight that took the edge that deposi put out sight for the most part, the line the safely stored the doors were swung open the pub- On either side stood a pretty little girl. In their arms was handed to person entering. Cashiers and tellers were their places, and the might They began paying checks any delay and smiling they worked. In end the stood on chair. He that all the street the and the lobby full the officers' were opened into the the the chair the Reserve Bank. member of the federal system.' Balley went the Federal officials the federal system had the Park and found that shape any bank in City. have marshaled per cent cash within 24 hours bank did," he not you for alarmed at the afloat, but your today you are Injuring and your city. you will not home about And he off the The from the few money being deposited was being drawn WHAT'S the